Innodata Inc. (NASDAQ:INOD) Holdings Boosted by Palisades Investment Partners LLC

Palisades Investment Partners LLC increased its position in Innodata Inc. (NASDAQ:INOD - Free Report) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 368,651 shares of the technology company's stock after acquiring an additional 21,093 shares during the quarter. Innodata comprises about 6.1% of Palisades Investment Partners LLC's holdings, making the stock its 3rd biggest holding. Palisades Investment Partners LLC owned 1.27% of Innodata worth $14,569,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of INOD. Vanguard Group Inc. increased its stake in shares of Innodata by 7.7% in the fourth quarter. Vanguard Group Inc. now owns 1,639,724 shares of the technology company's stock worth $64,802,000 after buying an additional 117,000 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in Innodata by 1,718.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 944,611 shares of the technology company's stock valued at $37,331,000 after buying an additional 892,663 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in Innodata during the 4th quarter valued at $16,713,000. Ameriprise Financial Inc. raised its holdings in Innodata by 322.9% during the 4th quarter. Ameriprise Financial Inc. now owns 318,096 shares of the technology company's stock valued at $13,649,000 after buying an additional 242,871 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in Innodata by 20.6% during the 4th quarter. Nuveen Asset Management LLC now owns 312,639 shares of the technology company's stock valued at $12,355,000 after buying an additional 53,376 shares during the last quarter. 30.75% of the stock is currently owned by institutional investors.

Innodata Price Performance

INOD stock traded up $3.00 during midday trading on Tuesday, hitting $39.48. The company's stock had a trading volume of 1,198,667 shares, compared to its average volume of 1,343,899. Innodata Inc. has a 12 month low of $11.87 and a 12 month high of $71.00. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 46.48 and a beta of 2.75. The company has a 50 day moving average of $36.71 and a two-hundred day moving average of $40.85.

Innodata (NASDAQ:INOD - Get Free Report) last posted its earnings results on Thursday, May 8th. The technology company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.05. The firm had revenue of $58.34 million during the quarter, compared to the consensus estimate of $57.64 million. Innodata had a return on equity of 66.36% and a net margin of 16.81%. The firm's quarterly revenue was up 120.1% compared to the same quarter last year. On average, analysts expect that Innodata Inc. will post 0.81 EPS for the current year.

Insiders Place Their Bets

In other Innodata news, Director Nauman Sabeeh Toor sold 196,777 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $64.40, for a total value of $12,672,438.80. Following the completion of the sale, the director now owns 12,417 shares of the company's stock, valued at approximately $799,654.80. This trade represents a 94.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marissa B. Espineli sold 30,000 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $65.09, for a total value of $1,952,700.00. Following the completion of the sale, the chief financial officer now directly owns 18,000 shares of the company's stock, valued at approximately $1,171,620. This represents a 62.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 275,427 shares of company stock worth $17,790,794 over the last quarter. Company insiders own 12.20% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on INOD. Wedbush reduced their price objective on shares of Innodata from $75.00 to $58.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. BWS Financial boosted their price objective on shares of Innodata from $45.00 to $74.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Finally, Maxim Group boosted their price objective on shares of Innodata from $54.00 to $75.00 and gave the company a "buy" rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Innodata has an average rating of "Moderate Buy" and an average price target of $55.00.

Innodata Company Profile

Innodata Inc operates as a global data engineering company in the United States, the United Kingdom, the Netherlands, Canada, and internationally. The company operates through three segments: Digital Data Solutions (DDS), Synodex, and Agility. The DDS segment engages in the provision of artificial intelligence (AI) data preparation services; collecting or creating training data; annotating training data; and training AI algorithms for its customers, as well as AI model deployment and integration services.